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Initial Claims

Posted May 3, 2012 by Editor

[private]Initial claims fall a more-than-expected 27,000 (Consensus and Decision Economics: -8,000) from a prior-week level revised up by 4,000.  The Labor Department cited no special factors as influencing the result.

Though not yet totally credible as an indication of labor market firming, the drop in claims will tamp down fears that layoffs are on a new rising trend–adding to the message of the strong ISM in suggesting that fears of a looming serious soft patch are overblown.[/private]